Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Reliance Naval and Engineering Limited is an India-based company engaged in the business of shipbuilding and repairs. The Company operates an integrated shipbuilding facility with 662 M x 65 M Dry dock. The facility houses the modular shipbuilding facility with a capacity to build fully fabricated and outfitted blocks. The fabrication facility is spread over 2.1 million square feet. The shipyard has a pre-erection berth of 980 meters length and 40 meters width, and two Goliath cranes with a combined lifting capacity of 1,200 tons, besides outfitting berth length of 780 meters. Its capabilities include design and construction of offshore patrol vessels (OPVs), landing platform docks (LPDs), frigates, corvettes, destroyers, research vessels, submarines, and aircraft carriers. It undertakes repair and maintenance on all types of ships and rigs. Its repair and upgrade works include steel repairs, jumboizing and conversions; propeller repairs; tail shaft and rudder repairs; and others.
RELV - Reliance Naval and Engineering Ltd
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